Recent content by GalacticGazelle

Perhaps this doesn't apply to his situation, and I could be mistaken, but based on my understanding, if someone has an LLC partnership in Delaware and receives dividends, they would only incur a 7% tax rate in Slovakia. In Bulgaria, the tax rate would be 10%, and Bulgaria is in the non-Schengen...

If OP receives only dividends, why not consider Slovakia, which has a withholding tax (WHT) rate of 7%? If dividends are received without any active involvement from OP in Slovakia, they may be exempt from Corporate Income Tax (CIT). Hello @Don, in the scenario you provided, could you clarify...

But will works also for single-member? Or need a partnership?

So if I understood correctly, if I have an LLC that is structured as a partnership and distributes dividends to me, with zero operations in Slovakia, this could be treated and taxed only at 7% WHT? If my LLC is a sole member, this approach would not work. Am I correct? Thanks.

But if I apply the structure as described above with the partnership having two members, would the generated income be considered as dividends only? In that case, would it still be subject to only a 7% withholding tax (WHT) and not Corporate Income Tax (CIT)?

If it's a single-member LLC, demonstrating the substance of the LLC might be challenging. However, if I establish a partnership, it could potentially present a better scenario? For instance, LLC1 with myself as the sole member, and LLC2 established as a partnership with a 50% share held by LLC1...

I might be missing something, but if an LLC operates primarily in the US and also has transactions in the EU, for example, in Germany, what does the LLC need to do? How and where does it need to register for VAT? Consulting services with mostly of B2B.

I've spoken with someone locally in Slovakia, and he informed me that CIT (Corporate Income Tax) is not applicable if you have a US LLC. Therefore, you would only be subject to the withholding tax (WHT) at 7%. Did he miss something?

A physical location bill is needed, and it must not be linked to the Registered Agent's address.

I'm on the hunt for an EMI or bank alternative to Mercury for my non-resident LLC in the USA. After doing some research, my options seem to include Relayfi, Payoneer, TryNovel (which I'm not particularly fond of), or maybe even Wise. Does anyone have any other recommendations to add to the...

Hello, I would like to confirm that both myself and many others I know have received only one upgrade request from Mercury. This request was related to confirming our physical addresses. Additionally, Mercury inquired whether we have US consumers or not, and if we plan to confirm US operation...

So perhaps it's more likely that Mercury will also make changes regarding the bank used and not affected at all non-residents as they said users and video above. What are your thoughts on this?

Evolve Bank & Trust is used by both Mercury and Relay. If they were to reject non-residents, it would likely result in the loss of a significant number of customers. However, I don't believe that will happen.

So the total tax on LLC distribution in Slovakia would be 21% + 7%, if I understand correctly. So CIT must be paid pratically. In Bulgaria, do I need to create a local company or branch, or can I simply distribute funds from the LLC to my personal residence in Bulgaria? Will this incur only a...

What about Slovakia? Is the CIT not 7%? And in Bulgaria, with an LLC, do you only pay 10% on dividends? Having the LLC and being resident in Switzerland and Cyprus? What's the tax on distribution? And so how to take out money from LLC on your resident, for example, in Dubai? Prague could works?